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Higher Education Circular. April, 1916. 

DEPARTMENT OF THE INTERIOR, 
BUREAU OF EDUCATION. 



THE INSTITUTIONAL BUDGET. 

By HoLLis Godfrey, 
President of the Drexel Institute, Philadelphia, Pa. 



The need of an mstitut'ional hudget. — Uncleriieath discussions of 
content and method lies the budget, which makes practical the 
scholastic ideal. Once an educational ideal is determined, its ac- 
complishment depends on a realization of the fact that salaries must 
be paid, equipment must be secured, grounds and buildings must be 
maintained, fixed charges must be met, and all the varied community 
activities of the small and large communities of the college world 
carried on b}' the expenditure of money. Nowhere is the determina- 
tion of the stress which it is possible to lay on any division of an}'^ 
educational project more easily determined than by reference to the 
limitations of the budget. Nowhere is there possibility for more 
friction or for better feeling in a faculty. Too often budget-making 
is still the mere haphazard bringing together of those disbursements 
which, it appears, must be met in the succeeding year. Too often 
no fixed educational policy lies behind the items of income and of ex- 
penditure. The paper presented here outlines certain practical 
methods adopted by the Drexel Institute to insure freedom from 
budget difficulties. 

Relation hetween research studies and the purposes of the insti- 
tute. — Largel}^ because of the all-pervasive nature of the budget, the 
institute found it necessary, at an early stage, to include problems of 
budget-making in the studies which it has been making as regards 
its "maximum capacity for service." Of the underlying purposes 
of these studies and of the particular study mentioned here, it is 
sufficient to say that the authorities of the institute define their gen- 
eral purpose to be the training of undergraduates in the three schools, 
engineering, domestic science and arts, and secretarial; training 
undergraduates "to think rightly and work hard, and to live and 
work cooperatively wnth other people"; and the institute desires to 
give them, as nearly as pf)ssible, the irreducible minimum of neces- 
sary information and the maximum of power. 

332.34—16 



2 THE INSTITUTIONAL BUDGET. 

The larger duties of an academic institution. — Coordinate with 
these purposes appears the underlying theory of the studies of service 
made by the institute. The authorities of the institute believe that 
teaching is a great art, and that its main purpose is to transfer the 
vital thought — the flame of learning — from the mind of the teacher 
to the mind of the scholar; that every change or expenditure in a 
purely teaching institution should be made with one thought in mind, 
namely, Does this assist or hinder the transference of this vital 
thought? Together with this comes the realization of the duty of 
trustees of a great foundation not to waste a dollar of the funds 
intrusted to their care, and the duty of trustees of student life not 
to waste an hour of the student's time. 

The three genercd divisions of this ■pajyer. — With this brief prelimi- 
nary statement of the reason underlying all the educational researches 
of the institute, including the study whose results are briefly out- 
lined here, this paper turns to the development of a budget appli- 
cable to academic needs and to the purposes underlying the items of 
the budget. The entire discussion will be divided into three parts : 

First. General principles underlying institutional budget-making. 

Second. The form of the budget. 

Third. Educational stresses in the budget. 

It should be noted, moreover, that the general principles outlined 
here, while specially adapted to educational institutions, are ap- 
plicable to any type of institution. 

GENERAL PRINCIPLES UNDERLYING ACADEMIC BUDGET-MAKING. 

Dccte of opening of financial year. — For many reasons the financial 
year of a college can best be opened at the beginning of the college 
year, September 1, since by this means all statistics of registration 
correspond to all statistics of cost. A financial year opening Septem- 
ber 1 is, therefore, assumed in this paper. 

Factors determining the making of two hudgets each year. — Hav- 
ing determined that the financial year and the college year shall 
coincide, the problem of whether an institution shall have one or 
two budgets comes next. It is scarcely necessary to say here that the 
great problem of budget-making, next to its problem of selective 
distribution among departments, is to gain the greatest possible 
accuracy in estimating income and disbursements. When one budget 
only is made for the financial year, it is difficult to gain this desired 
accuracy; for a complete budget, passed in the spring preceding a 
given year, when many sources of income can be only very approxi- 
mately calculated, leaves many possibilities of error. Budget-mak- 
ing in the form of one budget made before the beginning of the 
financial year is likely to produce one of two things, either disburse- 

JUN IS' 1916 



' THE INSTITUTIONAL BUDGET. 3 

iiifuts seri(;u-sly needed may be put aside because the income may 
app,ear too small, or expenditures are authorized which afterwards 
appear unwise, because of the fact that expected income does not 
materialize. 

7Wie tiro hachjets. — For these reasons, the Drexel Institute deter- 
inined to have two budgets yearly — a preliminary budget in May, 
when the income is estimated on the basis of a minimnm expectation 
of income, based upon an extremely conservative or minimized view 
of the preceding year's income, and a final budget in December, when 
the year's income is known to a considerable degree of accuracy. In 
the December budget the income may be apportioned on the basis 
of a close approximation to the actual amount which will be avail- 
able. The amount actually received has. so far, proved much larger 
than the conservative amount estimated the preceding May. These 
U\o budgets have come to be known to us as the May budget and the 
December budget, and will be so named here. 

Ih.come In the May hudget. — The conservative estimated income of 
the May budget contains as known factors those which have been 
obtained from the college year just ending; that is, the total known 
receipts of the preceding year less any possible diminution which 
may be foreseen, but not plus any increase. This action produces 
intentionally a very conservative estimate of income. The known 
factors of the preceding year are net income from endowment, 
actual tuition, and all other actual receipts from the first and second 
terms. 

IHshursemeutH in the May ljmh/-et. — The May budget contains as 
disbursements those necessary expenses which must be contracted for 
the whole academic year, such as salaries, the absolutely unavoidable 
exi^enses for operating and for maintenance of property, insurance, 
interest, and any other expenses showing in the financial statement 
of the preceding year on which no possible margin of saving can be 
at that time foreseen. This budget also contains as disbursements 
those items for all departments which must be paid during Septem- 
ber, October, and November, leaving the variable expenditures for 
the other nine months of the financial year for consideration in the 
December budget. The May budget is then a tentative budget, based 
u])on a minimum expenditure and liable to any necessary revision up 
or down in the December budget. 

The knoirn. and estiiruited income factws of the December 
hifd(/et. — The December budget (so-called because it goes into effect 
Dec. 1) is passed in November, and contains as known income the 
following factors: Any cash balance from the preceding year, known 
receipts from endoAvment to date, and actual tuition receipts and the 
like from the first term plus tivo estimated factors — first, the esti- 
mated income from endowment still to come, and, second, the esti- 



4 THE IIS^STITUTIOXAL BUDGET. 

mated tuition receipts for the second term. By December 1 a large 
portion of the revenues for the academic year are known, and that 
portion of them which must be estimated is provided with known 
factors with which to estimate the minimum. A brief discussion of 
the methods of estimating the two unknoAvn factors follows. 

Method of obtaining the first estimated income factor. — As re- 
gards the first estimated factor — the estimate covering the income 
from endowment — this is made up and submitted by the treasurer in 
charge of the endowment funds. It consists of the expected reve- 
nues from productive properties based on the revenues of the present 
year compared with the revenues of past years. It is inevitably far 
more accurate in December of a financial year than in the May pre- 
ceding, as, in the case of ordinary institutional properties, the income 
from any given December to the following September may be very 
clearly determined. 

The second estimated factor determined hy these methods. — As 
regards the second estimated factor, the estimated income from peri- 
odical fees — in this specific instance the income from the second- 
term receipts — these fees have been seldom, if ever, estimated in 
academic institutions with any precision, and the method of estimat- 
ing proposed here is, therefore, given in some detail. Three methods 
are used for estimating college record term receipts, which are, in 
brief outline, as follows: 

First method. — This consists of finding the unknown quantity in 
the following proportion : The actual fees received in the first term 
of the preceding year are to the -actual fees received in the second 
term of the preceding year as the actual fees received in the first 
term of the year under consideration are to the estimated fees to be 
received in the second term of the same year. By this method three 
known factors are used in order to obtain the estimated fourth, 
which is based upon the ratio of first-term receipts to second-term 
receipts. 

Second method. — This consists of an estimate calculated on the 
assumption that every pupil enrolled in September pays in Febru- 
ary. To these assumed receipts the actual receipts of February of 
the preceding year are added. A combination of a known maximum 
and a known minimum is thus obtained, the maximum being the 
total enrollment for September of the present year and the minimum 
the February enrollment of the preceding year. If a known maxi- 
mum and a known minimum are averaged, the result provides a 
probable mean. This would not apply when the receipts in Sep- 
tember of the given year are less than the receipts in September of 
the preceding year. 

Third method. — This consists of adding the actual receipts of the 
preceding year to the actual increase in fees for the first term. This 



THE INSTITUTIONAL BUDGET. 5 

gives a figure for a whole year, assuming that all the increase in 
fees came in the first term, and allotting no increase in fees to the 
second term. This gives a total income calculated from the minimum 
increased fees for the year. If the known income of the first term 
and the estimated endowment receipts of the year are subtracted 
from the sum thus obtained, the result gives a conservative estimate 
of the receipts for the second term, provided there has been no 
lessening in the total increase in first-term receipts. 

It is, of course, evident that a decrease in first-term receipts means 
subtraction in the processes indicated, instead of addition. 

The result of the three methods averaged. — Each of the methods 
given above yields a probable estimate. By averaging the results of 
the three, however, a figure may be obtained representing a partic- 
ularly good average of the estimated second-term receipts. It should 
be noted that by this method the semester fees received at the Drexel 
Institute have been estimated within 5 per cent of the second-term 
receipts, which makes the estimate of total receipts come within 2 per 
cent, Avhile in every case the receipts actually taken in have been 
above the estimate, as they should be with any conservative estimating 
of income. 

Review of the advantages of dividing the hudget into two 'patts. — 
Eeviewing the advantages of dividing the budget into two parts as 
outlined above, the following maj' be said : 

First. The income made the basis of all plans is made up largely 
of a known part and, to a much less extent, of an estimated part which 
is calculated from a known base. 

Second. That as a result of the more accurate determination of 
income, all variable expenditures are authorized on the basis of a far 
more accurately determined income. 

Third. That the educational and economic changes in a college 
occurring in seven months make possible a far wiser estimate of 
permanent needs in November than in the preceding May. 

In short, this method of budgeting gives the officer who prepares 
the budget conservatism in his outlook and increased accuracy in the 
making of decisions as regards educational policy. 

The two disadvantages. — The only disadvantages in this plan 
which have been so far presented are the limitation of work during 
the summer vacation and the preference of department heads to buy 
their equipment for an entire academic year at one time. 

Summer construction as a disadvantage. — The first disadvantage is 
more apparent than real, once a college determines to live within its 
income and to make the close of its financial year August 31. As 
I'egards the general problem of financing summer construction, it is 
the policy of the institute to let each financial year care for its own 



6 THE INSTITUTIONAL BUDGET. 

burden, and to add only such construction and equipment as can be 
paid for in a given 3^ear. 

The amount available for surmner construction is know7i. — In May, 
when the budget for a succeeding year is made, the amount of money 
which will be left from the expenditures of the current year and 
which is available for summer construction is very definitely known. 
It is, to all intents and purposes that amount which is left over beyond 
operating and fixed expenses. If the amount on hand is sufficient 
to do the required work, the handling of the matter becomes easy; 
it is merely a matter of transferring any existing balances to the 
construction account and of seeing that all bills are in and charged 
to the August accounts — so making all construction accounts charge- 
able to the present year. 

Atnount used to " come and go.''"' — At this point a few words may 
be written concerning the need for the appropriation of a sum in 
the budget on which to "come and go," and also concerning the trans- 
fer of any unexpected balances to the summer construction accounts. 
No matter how careful the estimating, many, variations in prices 
are quite beyond control, and wisdom will include in the December, 
as well as in the May, budget either some items on which saving can 
be made or else a definite sum used for meeting emergencies. Be- 
tween the close of the academic year and the close of the fiscal year 
there comes a period in which comparatively few current bills are 
received and in which any unexpected balances available from this 
" come and go " appropriation or from other appropriations may 
well be transferred to summer construction. 

The f/nancial hurden of the present should he placed on the present 
year. — If there is not enough money ahead to do the required work, 
it is usually the business of the president to see that it is provided. If 
funds must be obtained for the purpose, the president should get them 
ahead, instead of behind time, and instead of constructing or equip- 
ping, hoping that any deficit incurred will be met, all summer con- 
struction for a current year should be financed in that year, instead 
of placing the financial burden on the succeeding year. 

Ordering for only a part of the year as a disadvantage. — As re- 
gards the plans of department heads, the financial administration 
does everything that the income will allow to meet the needs of the 
department heads ; while the department heads, primarily by divid- 
ing their needs into two groups, those things needed in September, 
October, and November, and those things needed for the other nine 
months, do all they can to enable us to live within the income. 

Reviewing the possible disadvantages. — Eeviewing the discussion 
of possible disadvantages in this method, it will be noted that the 
theory of the presentation of two budgets assumes, besides the prin- 
ciples already stated, one other concept — one other principle — that 



THE INSTITUTIONAL BUDGET. 7 

the most easily controllable general item of expenditure is that for 
equipment and construction. In teaching, bricks and mortar are 
secondary to^brains; and the come and go of the budget should be 
placed in the secondary items. Salaries must be fixed for the year; 
most of the expenditures for maintenance and operation permit of 
but small economy; and fixed expenses are fixed; but equipment and 
construction are capable of expansion and contraction. 

THE FORM OF THE BUDGET. 

The importance of hudget form. — Next to the proper division of 
the budget comes the extremely important matter of the form of its 
presentation, a matter ^vhich must be considered in relation to the 
board by which its items are approved. The average board of 
trustees is a group of very busy persons. The length of board meet- 
ings is short at best, yet the board should understand every vital 
l)oint about a given budget. If they are to grasp the vital points, 
those which are not vital must be eliminated. Elimination of un- 
necessary detail and emphasis on the necessary points are therefore 
essential to proper presentation. It should be constantly remembered 
that not only is the material of which the budget comprised im- 
portant, but also that great care should be taken in the arrangement 
of this material, keeping constantly in mind the fact that, unless 
this material is clearl}^ and concisely indexed and stated, a correct 
perspective can not be gained, proper stresses can not be made, and 
Avrong emphasis necessarily results. In working out a budget for 
primary presentation to a board which must pass upon it, there are 
certain well-defined essentials which must appear. The forms given 
at the end of this paper indicate the method for presenting these 
essentials. 

The index sheet ])recedes all else. Following this in order come — - 

First, summary of the known receipts, briefly and clearly stated. 

Second, summaiy of the estimated receipts, with a note showing 
the methods of estimation. 

Third, summary of the known expenses. 

Fourth, summary' of estimated expenses, with a note showing the 
methods of estimation. 

Fifth, detail sheets expanding the summaries to any desired point. 

The arrangement of summary and detail sheets illustrates the 
point already made of using some logical means to stress important 
points. Every summary sheet should lead back to detail sheets. 
To take a single example in this line, the following paragraphs out- 
line the details which support the third and fourth summarized 
sheets of the budget, known and estimated expenses. Under the 
head of salaries, the largest expenditure is covered. In order of 



8 THE INSTITUTIONAL BUDGET. 

expenditures, the second head is material for operating; third comes 
maintenance of property; fourth, fixed expenses. These summary 
heads are capable of further subdivisions. 

The -first head. — Under the first head — salaries— fall salaries of 
the administrative force, the day and evening teaching force, labora- 
tory, shop, and administrative assistants, engineers, and janitors. 

Second head. — Under the second head — material for operating — 
come such general expenditures as supplies, printing and stationery, 
advertising, disability insurance, heat and light, lectures and enter- 
tainments, and general incidentals. 

Third head. — ^Under the third head — maintenance of property — 
fall building, library equipment and furniture, also office furniture 
and equipment, and school apparatus and appliances. 

Fourth head. — Under the fourth head — fixed expenses — come cer- 
tain necessary and comparatively unchanging items, such as insur- 
ance, interest, safe rent, and water rent. 

Actionable and explanatory parts of the budget. — -It may be noted 
that, in the case of a budget arranged as outlined here, two distinct 
parts appear, each with its special function. The first part of the 
budget contains those matters which must be passed by the board — 
the index sheet, the summary sheets, and the subsequent detail sheets. 
The second part of the budget contains explanatory material, which 
shows such historical relations as indicate the general financial 
trend of the past and show material to be used in deciding the future 
financial policy of the institution. 

Detailed and explanatory sheets — second part of the budget . — 
Turning in detail to the second or explanatory part of the budget, it 
should be noted that the material contained therein is mainly com- 
parative. As already noted, this part of the budget forms a basis 
for future action, but is not a subject for definite action by a board. 
These explanatory sheets, which make up the second part of the 
budget, are sheets whose importance should, however, be empha- 
sized. They are — 

First, summary of increases in appropriation for the present year 
as compared with disbursements of the past year. 

Second, statement of the comparative totals of past year and 
present year. 

Third, a comparative statement showing a general classification 
of expenses of the years preceding. 

The first explanatory sheet. — The first explanatory sheet groups 
the statements of the comparative totals of past j^ear and present 
year under the four summarized headings alread}^ outlined : 

1. Salaries, past disbursements, and present appropriations. 

2. Material for operating, past disbursements, present appropria- 
tions. 



THE INSTITUTIOXAL BUDGET. 9 

3. Maintenance of property, past disbursements, present appro- 
priations. 

4. Fixed expenses, past disbursements, present appropriations. 
An analysis of these comparative totals shows immediately if any 

disproportionate increase or decrease has been made in any of the 
four departments which can not be fully justified. 

The second explanatory sheet. — An analysis of the second sheet, 
giving increases of appropriation in the present year over the dis- 
bursements of the past year, will indicate (as a part of the systematic 
financial policy of the institution) just Avhat financial opportunities 
for further development are possible. 

The third explanatory sheet. — How many years should be shown in 
the analysis given on the third sheet, containing a comparative state- 
ment showing a general classification of expenses of the years pre- 
ceding, it is quite impossible to say. In one institution economic 
and educational changes have come so rapidly that the results of 
two years give all that are of value. In another, each of 25 years 
may give valuable data to affect future decisions. Each case must 
be decided on its own merits, but two principles can always be kept 
in mind. Decisions, to be valuable, must always be made on the 
basis of selective data. This means that only those data are val- 
uable which serve as a clue to future policy. History's great value 
is as a guide to the decisions of the present and of the future. 

EDUCATIONAL STRESSES IN THE BUDGET. 

The hudget as a means of selective development. — Passing now 
from the material content and form of arrangement to the educa- 
tional possibilities underlying the budget, it should be emphasized 
that, until the budget is recognized as a means for the selective de- 
velopment of educational ideals, the working power of any educa- 
tional institution has not been completely ntilized. 

Budget a means hy which systematic financial policy is made possi- 
ble. — In the items for salaries and pensions, for example, a proper 
budget makes possible decent salaries for the staff, makes possible the 
determination of an academic wage which can be and is (in the case of 
the Drexel Institute) based on carefully worked-out study of the 
necessities of an academic life. Only through sj'stematic budgeting, 
together with the collection of the analytical material which ac- 
companies it, can such a sj^stematic financial policy be attained as 
will make it possible to work out a fair plan of systematic advance- 
ment in salaries and to ascertain definitely what services must be 
given to make present or advanced salaries possible with the income 
available. In the same way a proper budget forms the basis upon 
which a systematic pension plan may be arranged. In the proper 



10 THE INSTITUTIOI^AL BUDGET. 

balancing' of construction and equipment lies justice for each depart- 
ment and the recognition of the educational value of a scraj) heap. 
In the items for maintenance of property and of educational supplies 
proper budgeting makes for comfortable working conditions for the 
teaching force and for sufficient supplies for effective teaching. 

The few examples given above indicate briefly some of the possi- 
bilities existing among the major divisions of the budget. Time for- 
bids the discussion of more than two more — the amounts devoted to 
student activities and faculty activities. 

Budget fossihilities in connection, loith student development. — It 
should be remembered, however, that while a part of the aim of the 
institute is to enable the individual to think rightly and work hard, 
the attempt is also made to make him understand the possibilities of 
living and working cooperatively with other people. To make the 
student a social being in a community world, nothing is more vital 
than a study of the different activities of student life. 

Eviphasis on fundamental and specific developnfient. — It is impos- 
sible to get away from the fact that both the educated man and 
woman must have both fundamental and specific education, and that 
no small part of fundamental education consists in a sympathy with 
and an appreciation of music, letters, art, and the healthy sports 
of the out-of-door world, lectures by poAverful men and women, the 
musical activities of the glee club, the orchestra, and the mandolin 
and guitar club, the art interests of the college, the Men's Union and 
Women's Union, Avhere men and women may settle, as youth has 
always settled, the problems of life and of the State, and the ath- 
letic and outdoor activities. The emphasis placed upon each of these 
items by the budget appropriations devoted to their use reflects the 
spiritual significance of the college. 

Value of the contingent fund to the vitality of teaching. — A word 
should be said regarding one item of the budget which has no slight 
effect upon the vitality of our teaching — that item which has to do 
with the broadening and vitalizing of the faculty. Each year Drexel 
intends to send a third of the faculty away to see the best work done 
elsewhere, giving each faculty member, before he starts, his trans- 
portation and $6 a day for every day away. Just as there are 
the Men's Union and the Women's Union, so the Men's Faculty Club 
and the Women's Faculty Club have been provided. As the institute 
believes in the education of the student, so it believes in the educa- 
tion of the faculty; it pays the first fee of any member of the staff 
who wishes to take graduate work at the University of Pennsylvania 
or at Columbia. 

As 7^egaorls hospitality.- — In doing all this, the institute tries not 
to neglect one other art — the art of hospitality. The staff of the 
institute feel that, for their own sakes, they need the pleasant 



THE INSTITUTIOlSrAL BUDGET. 11 

mingling with guests; for the sake of educational achance, they are 
glad to play their part in the forward movement of our great art 
of teaching. 

From all these standpoints it appears that the hudget is obviously 
a vital factor in education and one whose true value has been real- 
ized but lately. As in the make-up of every finished product it is 
absolutely necessary that much attention be given to the selection 
of the raw material, so in making of the educational product, the 
raw material must not be overlooked. In the academic budget the 
law material is composed of a number of elements, those essentials 
already mentioned — the Imown receipts, the estimated receipts; the 
known expenses, the estimated expenses, whose effective use depends 
largely upon an understanding of the principles involved in their 
use. These elements of the budget, like raw materials, are worked 
over until they assume the form of parts — ^the index, the summary, 
the detail, and the explanatory sheets, which, when assembled, pro- 
duce the budget, an effective mechanism by which proper educational 
stresses can be brought about and coherent policies of educational 
advances obtained. 

A paper like this is inevitably tentative. The experience related 
herein is of but two years' duration, one of 36 studies made by the 
institute in the search for the maximum capacity for service. The 
authorities of the institute consider that they are decidedly in the 
learning stage, glad to receive constructive criticism from anyone 
who can give it. But in any case, this much can be said: With all 
these elements properly brought together and properly translated, 
the budget has proved a valuable aid in making effective the purpose 
of the institute, to w^aste no dollar of the endowment or hour of the 
student's time and to transfer the vital thought. 



[SUGGESTED OUTLINE OF AN INSTITUTIONAL BUDGET.J 

TABLE OF CONTENTS. 



BUDGET FOR PRESENT YEAR. 



INDEX SHEET. 



Part I. Receipt.s and Appropriations. 

Sheet /.—Summary of the known receipts. 
Sheet II. — Summary of the estimated receipts. 
Sheet III. — Summary of the known expenses. 
Sheet IV. — Summary of the estimated expenses. 

Part II. Explanatory Sheets. 

Sheet V. — Summary of increases in appropriation for the present year as com- 
pared with disbursements of tlie past year. 
Sheet VI. — Statement of the comparative totals of past year and present year. 
Sheet VII. — Comparative statement of general classification of expenses. 

13 



Part I. Receipts and Appuopkiatioxs. 

Sheet I. — Summary of the knoivn receipts. 

Cash balance — from treasurer's report 

Receipts from endowment — treasurer's letter, May 10, 1915 

Fees, actual to date 

Sheet II. — Summary of the estimated I'eceipts. 

There are three methods of calculating estimated income from periodical 
fees. These three methods are being used, and the results are given as follows : 

MetJiod 1 consists of finding the unknown quantity in the following propor- 
tion : 

Amount of actual fees received in September preceding year is to amount 
of actual fees received in February preceding year as amount of actual 
fees received in September is to estimated amount of fees received in 
February. 

Method II. By this method the receipts are first estimated on the assumption 
that every pupil enrolled in September will pay in February. The actual 
receipts for the February of the preceding year are added to this maximum, 
and the two are averaged. 

Method III. By method three the actual receipts in the preceding year are 
added to the actual increase in fees for the fall term, and the known receipts 
are subtracted from this sum. Tlie result gives the receipts for February, pro- 
vided, as has been the case in the past, that there has been no lessening of the 
total increase in first-term receipts. 

Sheet III. — Summary of the known expenses. 

For From 

present Sept. 1 

year. to Dec.l 
Salaries: 

Administration and day teaching $ | 

Evening instruction 

Engineers and janitors 

Material for operating : 
Supplies — 

School 

Janitors 

Printing and stationery 

Postage 

Advertising 

Heat and light 

Library — periodical subscriptions, rebinding, supplies, etc ...... 

Public lectures and entertainments 

General incidentals 

For use of dean 

For use of director \ • 

14 



THE IXSTITUTIONAL BUDGET. 15 

Sheet lU.—Sumvianj of the knoun expenses— Gon{mu(^<\. 

For From 

present Sept. 1 

Maintenance of property: ■■^""- t'^Dec.i. 

Office furniture and equipment 

School furniture and equipment 

School apparatus and appliances 

Library — books, f urnitui'e, etc 

Buildings 

Fixed expenses: 

Clerk, secretary of board 

Insurance 

Interest 

Safe rent 

Water rent 

Sheet IV. — Summary of estimated expenses. 

Operating and maintenance, full present year: 

Salaries ^ 

Material for operating 

Maintenance of property 

Fixed expenses 



Part II. The Three Sheets of Comparative Information". 

Sheet V.—Summanj of increases in approprioiion for the present year as compared with 

disbursements of the past year. 
Salaries: 

Present year q; 

Past year 

Decrease (due to decrease in cost of day instruction) 

Material for operating : 

Present year 

Past year 

Increase (due to increa.se in printing and stationery, repairs to 
organ, and increase in cost of chemicals and apparatus, due to 

war prices) 

Maintenance of property expenses: 

Present year 

Past year 

Decrease (due to transfer of charges to construction) 

Fixed expenses: 

Present year 

Past year 

Increase (due to increase in interest and insurance) 

Summary : 

Decreases — 

Salaries 

Maintenance of pro})erty expenses 

Increases — 

Material for operating 

Fixed expenses 

Decrease (excluding construction) 



16 THE INSTITUTIONAL BUDGET. «^- „«„ „ ^ 

019 754 898 8 4 

Sheet YI. — Stateme)it of the cornparatire totals of past year and present year. 



Items of expenditure. 


Appro- 
priation 
for past 
year. 


Disburse- 
ments 

for past 
year. 


Disburse- 
ments to 
April of 
present 
year. 


Appro- 
priations 
for pres- 
ent year 
from 
Sept. 1 
to Aug. 
31. 


Salaries: 

Administration 


% 


$ 


% 


% 






















































































General incidentals: 
































































































































































Sheet YII. — Comparative statement of general elassifieation of expenses. 

From 1913-14 to 1915-16, inclusive. 





Fixed 
expenses. 


Construc- 
tion and 
mainte- 
nance of 
property. 


Material 
for oper- 
ating. 


Salaries. 


Total. 


Disbursements: 
1913 14 


% 


$ 


% 


s 


S 


1914-15 






Appropriations: 

1915 16 

























Note. — As regards the forms shoAvn above, the fact should be em- 
phasized that they are intended merely as suggested outlines to be 
changed from year to year as occasion may require, and that in 
each institution such forms must be developed as will best meet its 
need. 



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V 



